Buying your first home in RI? The state may give you ,500 for your down payment
First-time homebuyers, take notice: the state housing department is offering $17,500 grants toward down payment and closing costs. The $17,500 gran...
First-time homebuyers, take notice: the state housing department is offering $17,500 grants toward down payment and closing costs. The $17,500 grants are a $30-million slice of the funds Rhode Island received from the federal American Rescue Plan Act, also known as ARPA. In all, the state earmarked $250 million of its federal funds for housing, and the $30 million represents 12% of that portion. In all, the state received $1.1 billion. The program opened on Jan. 25, and so far 30 applications have come through and three have been granted, RI Housing's Director of Homeownership Peter Pagonis said.